MADRID, March 18 Spain's Santander said
on Monday it plans to sell a maximum 5.2 percent of its stake in
Poland's Bank Zachodni WBK as part of a plan to
increase the Polish lender's free float.
Santander, the eurozone's largest bank, and fellow BZ WBK
shareholder KBC of Belgium said earlier this month that
they had hired advisers to help them unload shares in the Polish
KBC is selling its 16.2 percent of the bank, while Santander
- with a 75 percent stake in BZ WBK - said it plans to remain a
controlling shareholder with a holding of at least 70 percent.
The placement to institutional investors, to enable a free
float of about 30 percent, would be priced at 240 to 270 Polish